EconStor Collection: BERG Working Paper Series, Universität Bamberghttp://hdl.handle.net/10419/161
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Impact of public funding of education on economic growth in Macedoniahttp://hdl.handle.net/10419/107594
Title: Impact of public funding of education on economic growth in Macedonia
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<br/>Authors: Bexheti, Abdylmenaf; Mustafi, Besime
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<br/>Abstract: The main aim of this study is to investigate the relationship between public spending on education after the process of decentralization and economic growth in Macedonia as low income state. This paper do not have intention to make a picture of education system in Macedonia, how it functions or if education is open to all, but has the aim to measure the public spending on education as a determinant that has impact on economic growth even positive or negative. This paper raise the following important question: 'do all measures of public spending on education promote economic growth?' As a lack of data in developing countries like is Macedonia the specification of empirical models to test the causal effect on public spending on education and growth is paradox and this explain why the road through which public education expenditure affects economic growth is not yet well understood. The inter-relationships between government expenditure and education quality should be taken into account when formulating education policy to promote economic growth (Corray, 2000). The channels by which education can promote growth maybe do not lie to quantity of public spending but on quality of the policy that means where youth end after their education. We investigate the link between public spending on education and economic growth in Macedonia using Logarithmic Multiple Regression Model. We came in conclusion that the model is significant. The result shows negative effect on public spending on education and economic growth in the case of Macedonia. The results also raise another statement 'what exactly are the highly educated workers doing together (that is so sensitive to their being highly educated) if it does not involve things changing at the margin?' (Aghion, et.al 2009). It ends with some key conclusions and recommendations that there has to be founded another channels to produce quality education - skilled labor by which will rise the productivity and economic growth.Wed, 29 Oct 2014 22:58:59 GMTImpact of public funding of education on economic growth in Macedoniahttp://hdl.handle.net/10419/107594
Title: Impact of public funding of education on economic growth in Macedonia
<br/>
<br/>Authors: Bexheti, Abdylmenaf; Mustafi, Besime
<br/>
<br/>Abstract: The main aim of this study is to investigate the relationship between public spending on education after the process of decentralization and economic growth in Macedonia as low income state. This paper do not have intention to make a picture of education system in Macedonia, how it functions or if education is open to all, but has the aim to measure the public spending on education as a determinant that has impact on economic growth even positive or negative. This paper raise the following important question: 'do all measures of public spending on education promote economic growth?' As a lack of data in developing countries like is Macedonia the specification of empirical models to test the causal effect on public spending on education and growth is paradox and this explain why the road through which public education expenditure affects economic growth is not yet well understood. The inter-relationships between government expenditure and education quality should be taken into account when formulating education policy to promote economic growth (Corray, 2000). The channels by which education can promote growth maybe do not lie to quantity of public spending but on quality of the policy that means where youth end after their education. We investigate the link between public spending on education and economic growth in Macedonia using Logarithmic Multiple Regression Model. We came in conclusion that the model is significant. The result shows negative effect on public spending on education and economic growth in the case of Macedonia. The results also raise another statement 'what exactly are the highly educated workers doing together (that is so sensitive to their being highly educated) if it does not involve things changing at the margin?' (Aghion, et.al 2009). It ends with some key conclusions and recommendations that there has to be founded another channels to produce quality education - skilled labor by which will rise the productivity and economic growth.Wed, 29 Oct 2014 22:58:59 GMTRemittances' impact on the labor supply and on the deficit of current accounthttp://hdl.handle.net/10419/107124
Title: Remittances' impact on the labor supply and on the deficit of current account
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<br/>Authors: Meyer, Dietmar; Shera, Adela
<br/>
<br/>Abstract: Remittances as one of the main benefits of international migration have a great and important impact on the countries of origins and make migration a topic of special interest for many researchers. Workers' remittances represent an important financial flows and a major source of private external finance for many developing countries, which they receive them in large quantity. For many economies, remittances represent a sizable and stable source of funds that sometimes exceed official aid or financial inflows from foreign direct investment. One substantial drawback of remittances is that it means developing economies lose their best, most skilled young workers. It can lead to a situation where so many adults have migrated to a richer country; children are being brought up by grandparents. This has both an economic and social cost. The economy loses because young workers are not available; society loses out by the displacement effect of young adults not being there. On the other hand, people wouldn't undertake the upheaval of moving to other countries, if they didn't think their families would benefit and the country benefits too. The free movement of labor enables greater opportunities for people in developing economies and also helps developing economies gain important foreign currency revenue. Developed countries benefit from a more elastic supply of labor, enabling greater labor market flexibility. Remittances may increase consumption and enhance investments and have a significant impact to finance economic growth in receiving economies. In particular, migrants' transfers of funds, being inflows of foreign currencies that can be used to repay foreign debt, are less volatile compared to other financial flows. For some countries money sent back in the form of remittances from migrant workers are mostly used for consumption and investments and comprise a substantial portion of GDP and their balance of payments. This paper examines the impact of remittances as an income source to finance the balance of payment deficit. First, it documents the increasing share of remittances relative to other foreign capital flows to Albania and Southeast countries, distribution of remittance inflows across countries. This is followed by some analysis of the potential benefits and costs of remittances in recipient countries. The paper drawing on the case of Albania, Serbia, Bosnia Herzegovina, Moldova, Bulgaria, Romania and Republic of Macedonia, the paper shows the positive impact that rising remittances can have on the improvement of current account balance. Finally, also examines the role of remittances in funding decreasing Albanian National Debt. Workers' remittances to Albania are nevertheless an important financial flow-with perhaps, significant developmental effects. Albania earns a large amount of worker's remittances which since 1992 they have grown rapidly. It is well known that they represent the second largest inflow of incomes, are less costly and increased mostly consumption level. Our results point the positive impact of remittances in financing the deficit of the balance of payments and are a stable source of incomes.Wed, 29 Oct 2014 22:58:59 GMTRemittances' impact on the labor supply and on the deficit of current accounthttp://hdl.handle.net/10419/107124
Title: Remittances' impact on the labor supply and on the deficit of current account
<br/>
<br/>Authors: Meyer, Dietmar; Shera, Adela
<br/>
<br/>Abstract: Remittances as one of the main benefits of international migration have a great and important impact on the countries of origins and make migration a topic of special interest for many researchers. Workers' remittances represent an important financial flows and a major source of private external finance for many developing countries, which they receive them in large quantity. For many economies, remittances represent a sizable and stable source of funds that sometimes exceed official aid or financial inflows from foreign direct investment. One substantial drawback of remittances is that it means developing economies lose their best, most skilled young workers. It can lead to a situation where so many adults have migrated to a richer country; children are being brought up by grandparents. This has both an economic and social cost. The economy loses because young workers are not available; society loses out by the displacement effect of young adults not being there. On the other hand, people wouldn't undertake the upheaval of moving to other countries, if they didn't think their families would benefit and the country benefits too. The free movement of labor enables greater opportunities for people in developing economies and also helps developing economies gain important foreign currency revenue. Developed countries benefit from a more elastic supply of labor, enabling greater labor market flexibility. Remittances may increase consumption and enhance investments and have a significant impact to finance economic growth in receiving economies. In particular, migrants' transfers of funds, being inflows of foreign currencies that can be used to repay foreign debt, are less volatile compared to other financial flows. For some countries money sent back in the form of remittances from migrant workers are mostly used for consumption and investments and comprise a substantial portion of GDP and their balance of payments. This paper examines the impact of remittances as an income source to finance the balance of payment deficit. First, it documents the increasing share of remittances relative to other foreign capital flows to Albania and Southeast countries, distribution of remittance inflows across countries. This is followed by some analysis of the potential benefits and costs of remittances in recipient countries. The paper drawing on the case of Albania, Serbia, Bosnia Herzegovina, Moldova, Bulgaria, Romania and Republic of Macedonia, the paper shows the positive impact that rising remittances can have on the improvement of current account balance. Finally, also examines the role of remittances in funding decreasing Albanian National Debt. Workers' remittances to Albania are nevertheless an important financial flow-with perhaps, significant developmental effects. Albania earns a large amount of worker's remittances which since 1992 they have grown rapidly. It is well known that they represent the second largest inflow of incomes, are less costly and increased mostly consumption level. Our results point the positive impact of remittances in financing the deficit of the balance of payments and are a stable source of incomes.Wed, 29 Oct 2014 22:58:59 GMT